Bankrupt FDIC - Should you be taking your money out of the bank?

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Johnny Oxygen's picture
Johnny Oxygen
Status: Diamond Member (Offline)
Joined: Sep 9 2009
Posts: 1443
Bankrupt FDIC - Should you be taking your money out of the bank?

If the FDIC is indeed bankrupt and wasn't capable of insuring one hundred or maore banks that will go under in the next leg down then why keep your money in the bank?

Swampmama3's picture
Swampmama3
Status: Bronze Member (Offline)
Joined: Oct 28 2009
Posts: 72
Re: Bankrupt FDIC - Should you be taking your money out of ...

I can't figure out why anyone would keep anything other than basic operating capital in a bank nowdays.  If I had any money to put in the bank, I wouldn't.  All my money goes to tangible assets that enable my family to keep breathing air.  I'll buy manure and compost with my dollars before I'll let them sit in a bank. 

Swampmama3's picture
Swampmama3
Status: Bronze Member (Offline)
Joined: Oct 28 2009
Posts: 72
Re: Bankrupt FDIC - Should you be taking your money out of ...

In addition to that thought, I wonder why the masses are keeping their stuff in banks.  Herd mentality, I suppose.  Goody for us, they keep the system screeching along a little while longer.  It sure will be interesting to see when everyone suddenly realizes "Oh crap, I better go get my money [email protected]#!!"  I plan to stay home and weed my garden on that day.

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